Yes, and iCloud account comes with a free email address. If you do not want to use it just go to Settings > iCloud and turn off Mail (and other services taht you don't want). This will not affect other accounts that you've set up under Settings > Mail, Contacts, Calendars.
Note that your iCloud account also shows up under Mail, Contacts, Calendars. Turning off series in either place will work, but I recommend signing into (or out of) your iCloud account int he Settings > iCloud area.